Central Bank Welcomes OECD Consumer Finance Risk Monitor Report

CBI Press Releases

Published March 2nd, 2026

Detected March 18th, 2026

Summary

The Central Bank of Ireland welcomed the publication of the OECD's Consumer Finance Risk Monitor 2026 report. The report highlights financial scams as the top threat to consumers globally, a concern echoed by the Central Bank's own outlook.

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What changed

The Central Bank of Ireland has issued a notice welcoming the OECD's Consumer Finance Risk Monitor 2026 report, which assesses consumer protection challenges across 60 jurisdictions. The report identifies financial scams and digital fraud, including phishing and AI-generated content, as the most significant risk to consumers worldwide. The Central Bank's Deputy Governor noted that this aligns with their own identified risks and emphasized the need for strengthened oversight and enhanced safeguards by financial institutions.

While this is a notice and not a new regulation, it signals the Central Bank's focus on these emerging risks. Regulated financial institutions should be aware of the report's findings and continue to enhance their fraud prevention measures and consumer support. The Central Bank also highlighted its ongoing work in consumer empowerment and financial literacy, suggesting a continued emphasis on these areas in future supervisory activities.

What to do next

Review the OECD Consumer Finance Risk Monitor 2026 report for emerging consumer protection risks.
Assess current fraud prevention measures and consumer support mechanisms in light of identified risks.
Continue to enhance safeguards against digital fraud and scams.

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Central Bank welcomes publication of OECD Consumer Finance Risk Monitor

02 March 2026 Press Release

New OECD report highlights financial scams as top threat to consumers globally

Deputy Governor of the Central Bank of Ireland Colm Kincaid welcomed the publication of the OECD’s Consumer Finance Risk Monitor 2026, a comprehensive global assessment examining consumer protection challenges across 60 international jurisdictions.

Deputy Governor Kincaid emphasised the need for strengthened oversight as structural economic, technological and market-conduct risks converge to significantly elevate consumer exposure.

“Today’s report from the OECD echoes many of the specific consumer and investor protection risk areas the Central Bank of Ireland highlighted this week in our Regulatory and Supervisory Outlook report.

“Financial scams and frauds now represent the most significant risk facing financial consumers worldwide, identified by 85% of responding authorities.” said Deputy Governor Kincaid. “The sophistication and scale of digital fraud – including phishing, identity theft, deepfakes and AI-generated fraudulent content – is creating an increasingly challenging environment for consumers, financial institutions and public authorities alike.

Deputy Governor Kincaid stressed that protecting consumers requires comprehensive action by all actors in the system: “The Central Bank’s mission is to serve the public interest by maintaining monetary and financial stability while ensuring that the financial system operates in the best interests of consumers and the wider economy. The OECD’s report provides crucial evidence to inform our regulatory and supervisory responses, and we have specific work underway on each of the key themes identified by the OECD at global level.

“In the area of financial scams and fraud, technology is providing criminals with new and innovative ways to harm consumers. In the face of this, regulated financial institutions must continue to enhance their safeguards against fraud and put better supports in place for consumers who fall victim to fraud. Action is required by others also to combat the rise in digital fraud called out in today’s report from the OECD.

“We must also directly empower consumers by providing them with the tools, skills and competencies they need.” Deputy Governor Kincaid added. “The Central Bank is proud of our work in helping give people the tools to protect themselves from fraud and scams by using the SAFE test, and to support Government’s work in expanding digital financial literacy through the National Financial Literacy Strategy.”

The Consumer Finance Risk Monitor 2026 synthesises views from government ministries and financial authorities worldwide, examining trends, issues and risks across banking and payments, consumer credit, insurance, investments and pensions sectors.

ENDS

Notes to Editors

Deputy Governor Colm Kincaid leads Consumer & Investor Protection at the Central Bank of Ireland and chairs the OECD Working Party on Financial Consumer Protection, Education & Inclusion.